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Waiver Of Bond By Heir Or Beneficiary Form. This is a California form and can be use in Probate-Decedents Estates Judicial Council.
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Tags: Waiver Of Bond By Heir Or Beneficiary, DE-142 DE-111(A-3d), California Judicial Council, Probate-Decedents Estates
ATTORNEY OR PARTY WITHOUT ATTORNEY (Name, State Bar number, and address): TELEPHONE NO.: E-MAIL ADDRESS (Optional): ATTORNEY FOR (Name): FAX NO. (Optional): SUPERIOR COURT OF CALIFORNIA, COUNTY OF STREET ADDRESS: MAILING ADDRESS: CITY AND ZIP CODE: BRANCH NAME: ESTATE OF (Name): , DECEDENT WAIVER OF BOND BY HEIR OR BENEFICIARY Attachment 3d to Petition for Probate* CASE NUMBER: NOTICE: READ PARAGRAPHS A G BEFORE YOU SIGN A. A bond is a form of insurance to replace assets that may be mismanaged or stolen by the executor or administrator (the estate's personal representative). The cost of the bond is paid from the assets of the estate. B. A bond may not be required if the decedent's will admitted to probate waives a bond and the court approves. C. If the decedent's will does not waive bond, or if the decedent died without a will, the law ordinarily requires the personal representative to give a bond approved and ordered by the court. However, all persons eligible to receive a share of the estate may waive the requirement of a bond. If they all waive bond and the court approves, the personal representative will NOT have to give a bond. D. If bond is not ordered by the court, and the estate suffers loss because the personal representative fails to properly perform the duties of the office, the loss or some part of it may not be recoverable from the personal representative. If so, your share of the estate may be partially or entirely lost. E. You may waive the requirement of a bond by signing this form and delivering it to the petitioner for appointment of a personal representative or to the petitioner's attorney. Your waiver cannot be withdrawn after the court appoints the personal representative without requiring a bond. However, if you sign a waiver of bond, you may later petition the court to require a bond. F. A guardian ad litem or other legal representative with specific authority under law to waive bond must sign for a minor, an incapacitated person, an unascertained beneficiary, or a designated class of persons who are not ascertained or not yet in being. See Judicial Council forms DE-350 and DE-351 and Probate Code section 1003. G. If you do not understand this form, do not sign it until you have asked a lawyer (who is independent of the lawyer for the proposed personal representative) to explain it to you. WAIVER 1. I have read and understand paragraphs A through G above. 2. I understand that before signing this form, I am free to consult with a lawyer of my choice concerning the possible consequences to me of waiving bond. 3. I understand that I do not have to waive bond to allow the estate administration to begin or proceed, or to receive my share of the estate. 4. I WAIVE the posting of bond in this estate by (name of personal representative): Date: . (TYPE OR PRINT NAME OF BENEFICIARY (AND AUTHORIZED SIGNER, IF BENEFICIARY IS NOT AN INDIVIDUAL)) (SIGNATURE) *(This form may be filed as a standalone form (as form DE-142) or as Attachment 3d(2) (will) or Attachment 3d(3) (intestacy) to the Petition for Probate (form DE-111) (as form DE-111(A-3d).) Form Adopted for Mandatory Use Judicial Council of California DE-142/DE-111(A-3d) [New January 1, 2015] WAIVER OF BOND BY HEIR OR BENEFICIARY (Probate--Decedents Estates) Probate Code, § 8481 www.courts.ca.gov Page of American LegalNet, Inc. www.FormsWorkFlow.com